WOKING is now home to the newest sports car manufacturing company in the world.

All eyes in the motoring industry were on the town on Thursday as McLaren launched its new road car arm, McLaren Automotive.

In an innovative event - broadcast live on the internet and attended by media from across the globe - Formula One drivers Lewis Hamilton and Jenson Button unveiled the MP4-12C.

The car will be built at a dedicated McLaren Production Centre alongside the existing Formula One Racing Team Technology Centre in Chertsey Road, Woking.

Work began on the new site at the same time as the car launch, and is due to be completed within 14 months.

The MP4-12C will have two seats and be priced between £125,000 and £175,000.

It is due to go on sale at the beginning of 2011 and 1,000 cars are expected to be made in the first 12 months.

Chairman Ron Dennis said: “At McLaren we are passionate about what we do.

“The McLaren F1 was the first road car ever to win Le Mans on its debut; the SLR is the biggest selling, carbon-based road car; and since 1966 when McLaren first entered Grand Prix racing we have won 25% of all Grand Prix.

“But McLaren isn’t a company that rests on its past, we are here to share with you what our vision for the future looks like.”

Building the MP4-12C in Woking will create 300 new and highly skilled jobs for the area.

Dennis added: “This is good news for McLaren, good news for the UK and good news for car enthusiasts.”

Hamilton and Button unveiled the first, completed vehicle.

A video of the pair, who kicked off their 2010 F1 season in Bahrain on March 14, testing the car was also shown.

Hamiton said: “I am a huge fan of this car and really wanted to get my hands on it.

“My former team-mate Heikki Kovalainen had already had a drive in it and we had an amazing time.”

Button added: “We had to really remember we weren’t driving a racing car. It is nice to be involved in a project like this.”